38.10 SAR

ADVANCED PETROCHEMICAL COMPANY ANNOUNCES THE LATEST DEVELOPMENTS REGARDING THE SHUTDOWN OF ITS PROPYLENE & POLYPROPYLENE PLANTS FOR PERIODIC SCHEDULED MAINTENANCE ACTIVITIES

Element ListExplanation
IntroductionAdvanced Petrochemical Company (Company) is pleased to announce the resumption of operations of its polypropylene plant from 27/02/2024 and propylene plant from 03/03/2024 after the successful completion of all required routine and preventive maintenance in accordance with the occupational safety and health standards approved by the Company as per schedule.
Previous AnnouncementThe shutdown of the Company’s propylene & polypropylene plants for periodic scheduled maintenance activities
Date of Previous Announcement on Saudi Exchange’s Website2024-01-28 Corresponding to 1445-07-16
Hyperlink to the Previous Announcement on the Saudi Exchange WebsiteClick Here
Latest Developments Of The Announced EventAll preventive maintenance operations were completed successfully in accordance with the company’s approved occupational safety and health standards. Operations have been resumed at its propylene and polypropylene plants as per schedule.
Reasons For The Delay on The Date of The Event Previously AnnouncedNone
The costs associated with the event, and if they have changed or not with indication of the reasons.There is no material or significant change in the costs associated with the maintenance activities.
Delay consequences on the Company’s financial resultsThere is no change in the financial impact of the previously announced event, as the expected financial impact for this shutdown will be reflected in the financial statements of the first and second quarters of 2024 based on the expected prices of feedstock and Polypropylene.